A group of investors just bought a unique vignette of history for $1.4 million — a 22-building, Old West ghost town in California.
Called Cerro Gordo, which means “fat hill” in Spanish, the more than 150-year-old town is located about 200 miles north of Los Angeles, 400 miles southeast of San Francisco and 200 miles west of Las Vegas. It’s situated near Death Valley National Park on the edge of the Inyo Mountains in Owens Valley.
Cerro Gordo is fairly remote. It’s 25 miles — 15 on paved road and 10 on dirt — from the closest town with a grocery store, Lone Pine, California, real estate broker Jake Rasmuson tells CNBC Make It.
The purchase was led by two young entrepreneurs: Jon Bier, 37, owner of boutique public relations agency Jack Taylor PR in New York and Los Angeles, and Brent Underwood, 29, owner of hostel HK Austin in Austin, Texas, and a partner at marketing firm Brass Check.
Bier was instantly struck by the 300-acre property.
“As we were driving up the mountain range to get to the property for the first time, I think we all kind of had the feeling like this already is significant. I feel like I am going to be here a lot in my life. It felt like home already,” he tells CNBC Make It.
When they arrived, walking through the 19th century mining town “was overwhelming,” Bier says.
The houses are all decorated in period style. “There [are] … multiple pianos … antiques everywhere … gramophones and ice boxes. And tables that were set. I mean … chandeliers,” says Bier.